GBP/USD – 4H – BUY

The pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards

An ascent upwards to the next resistance level at 1.32153 is likely expected.

Caution: A possible change in the direction of the support level at is also possible.
Consider stop-loss settings accordingly.

Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a positive chart signal. The currency pair is likely to rise.

Additionally a ‘%K crosses above %D’ indicator signal is existing. The indicator shows ‘%K crosses above %D’. which could be a positive chart signal. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Current target is 1.32496 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of resistance at 1.32153 is also possible.
Consider stop-loss settings accordingly.

Additionally a ‘Northern Doji’ candle pattern is detected. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

1.32153 – 1.31907 – 1.33691 – 1.3037 – 1.30096 – 1.30963 —
1.31063 – 1.31375 —
49.992679293765 – 58.622333828505 —
– —
1.32153 – 1763049600

Trading Signals: FOREX – GBP – GBP/USD – USD – Northern Doji – – – – – – – – –